Sierra Meadows, Colonial Center, Metro Centre

Project Description

These properties illustrate Private Equity Group’s keen insight in choosing prime locations and knowing how to add value to such properties. While these three properties are not core holdings and are certainly not the largest transactions in terms of acres or dollars, they have provided a superior return on invested equity.

Sierra Meadows — Collier County
Sierra Meadows is a 32-acre property zoned for commercial and office, and is only one of a few such properties in east Naples. The property is directly across the street from the new HMA hospital campus planned to serve the growing residential population in east Naples. We acquired the property in 2000 and took it through the rigorous Collier County zoning, engineering, and permitting process. The site had a retail value of $15 million. It is being developed into two banks, several medical offices, a retail center and a CVS Pharmacy.

Colonial Center — Lee County
Located at the intersection of Colonial Boulevard and I-75, this 22-acre parcel is situated at the point of the highest traffic count in Lee County and across the street from a new Wal-Mart Supercenter. The property enjoys an extremely strong visual profile. We acquired this property in 2000, and completed the permitting, engineering and vertical infrastructure in 2003.

Metro Centre — Fort Myers
A 26,000-square-foot industrial center, Metro Centre is situated on 2.21 acres of fully improved land. The property fronts Metro Parkway in the largest commercial and industrial district in Lee County. The building is of superior construction with concrete tilt-up walls. In comparison, 90% of all buildings on Metro Parkway are metal.